Norway has long required publicly listed companies to have women make up 40 percent of their board members. Now, the government is set to expand those quotas to private companies. Under a proposed law, any private company with at least 30 employees and annual revenue of at least 50 million kroner ($4.66 million) would have to have women account for at least 40 percent of its board members. The law would affect around 20,000 firms.
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